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Posted Sat, 28 Sep 2024 06:40:34 GMT by Surfchickmorgs
I am dealing with the estate of someone who died early in this tax year (2024/25). Before 2023/24 they had no savings interest over the personal limit of £1,000 but in 2023/24 for the first time their savings interest exceeded £1,000 (it was approx £1,400?). I understand HMRC normally adjust the persons tax code for the next year (2024/25) to account for this, but when someone dies do they still do this? Or do they readjust 2023/24 years tax owed? He died early enough in the 2024/25 tax year that his earnings will not have reached his personal allowance which means he won’t have to pay tax on that savings interest. We are awaiting P800 but it has been more than the 8 weeks and we want to get an estimate finalised. Thanks.
Posted Mon, 14 Oct 2024 11:34:32 GMT by HMRC Admin 17 Response

Hi ,
 
Any savings interest received in the tax year 2023/2024 will be allocated to 2023/2024 -

a P800 will be issued when HMRC receive details of all income sources for 2023/2024 -

please contact us on 0300 200 3300 if you which to chase this up.  

Thank you .

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